American Century Companies Inc. Grows Stake in Peapack-Gladstone Financial Co. (NASDAQ:PGC)

American Century Companies Inc. increased its holdings in shares of Peapack-Gladstone Financial Co. (NASDAQ:PGC) by 12.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 173,958 shares of the financial services provider’s stock after acquiring an additional 19,346 shares during the quarter. American Century Companies Inc. owned about 0.98% of Peapack-Gladstone Financial worth $4,462,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PGC. Quantbot Technologies LP acquired a new position in Peapack-Gladstone Financial during the third quarter worth about $25,000. Lazard Asset Management LLC acquired a new position in Peapack-Gladstone Financial during the first quarter worth about $35,000. Citigroup Inc. boosted its holdings in Peapack-Gladstone Financial by 66.2% in the 1st quarter. Citigroup Inc. now owns 2,577 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 1,026 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Peapack-Gladstone Financial by 355.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,427 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 1,894 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in Peapack-Gladstone Financial by 45.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,849 shares of the financial services provider’s stock valued at $174,000 after purchasing an additional 1,815 shares during the last quarter. 72.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Peapack-Gladstone Financial

In other news, EVP Gregory Martin Smith sold 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $30.02, for a total value of $135,090.00. Following the transaction, the executive vice president now directly owns 15,703 shares in the company, valued at approximately $471,404.06. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 7.63% of the company’s stock.

Analyst Ratings Changes

Separately, TheStreet lowered shares of Peapack-Gladstone Financial from a “b-” rating to a “c+” rating in a report on Friday, February 23rd.

Peapack-Gladstone Financial Stock Performance

NASDAQ:PGC opened at $24.07 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $427.24 million, a price-to-earnings ratio of 8.88 and a beta of 0.99. The company’s 50-day moving average is $24.89 and its two-hundred day moving average is $25.89. Peapack-Gladstone Financial Co. has a 1-year low of $21.58 and a 1-year high of $31.49.

Peapack-Gladstone Financial (NASDAQ:PGC) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.06). Peapack-Gladstone Financial had a net margin of 12.94% and a return on equity of 9.03%. The firm had revenue of $54.27 million during the quarter, compared to analyst estimates of $54.91 million. Analysts forecast that Peapack-Gladstone Financial Co. will post 2.25 EPS for the current year.

About Peapack-Gladstone Financial

Peapack-Gladstone Financial Corporation operates as the bank holding company for Peapack-Gladstone Bank that provides private banking and wealth management services in the United States. The company operates in two segments, Banking and Peapack Private. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.